Retirement plan

AMERICAN BANK OF COMMERCE 401(K) PROFIT SHARING PL

Name: AMERICAN BANK OF COMMERCE - AMERICAN BANK OF COMMERCE 401(K) PROFIT SHARING PL (2020) Form 5500
Creator: AMERICAN BANK OF COMMERCE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN BANK OF COMMERCE 401(K) PROFIT SHARING PL, AMERICAN BANK OF COMMERCE

AMERICAN BANK OF COMMERCEEIN 75-1095067Plan #001PY 2020

P.O. DRAWER 9 - WOLFFORTH, TX 79382806-775-5163

Prospect flagsHigh feesCorrective distributions

Top hat statement on fileNQDC

Filed November 16, 2005 (most recent of 8 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$17M

+21.6% from 2019

Total participants

231

-6.9% from 2019

Average account balance

$74,035

-9.6% from 2019

Annual return

14.57%

-6.98 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$741K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-87.66%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

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Service providers

Top 10 of 13 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$76,907
PENSIONMARK FINANCIAL GROUP LLC6+ years Filed as: PENSIONMARK FINANCIAL GROUP, LLC Service code 27 · EIN 61-1758632	Advisory (Plan)	$27,587
WITHUMSMITH+BROWN, PC6+ years Filed as: BROWN, GRAHAM, & COMPANY, P.C. Service code 10 · EIN 75-1386677	Accounting	$14,750
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 93-0577450	Indirect Investment Fees	$0
FRANKLIN TEMPLETON4 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-2573775	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 33-1043149	Indirect Investment Fees	$0
PIMCO FUNDS4 years Service code 52 · EIN 95-2632339	Indirect Investment Fees	$0
TIAA3 years Filed as: TIAA-CREF Service code 52 · EIN 13-4055167	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$119K

$608 / participant

Investment mgmt$100K84.1%
Contract admin$4K3.6%
Other / not subdivided$15K12.4%

% of EOY assets

0.700%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BROWN, GRAHAM, & COMPANY PC
Auditor EIN: 751386677
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$74,035

$136,307-45.7%

$177,840-58.4%

$73,493+0.7%

Participation rate

99.5%

86.1%+13.4pp

87.7%+11.8pp

70.7%+28.8pp

Annual return

14.57%

18.68%-4.1pp

48.32%-33.8pp

28.51%-13.9pp

Employer contribution / active EE

$1,889

$3,712-49.1%

$5,919-68.1%

$2,270-16.8%

Participant deferral / active EE

$5,295

$5,829-9.1%

$7,714-31.3%

$3,740+41.6%

Admin fee / account holder

$518

$596-12.9%

$12,431-95.8%

$513+1.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$76,907

PENSIONMARK FINANCIAL GROUP LLC6+ years

Filed as: PENSIONMARK FINANCIAL GROUP, LLC

Service code 27 · EIN 61-1758632

Advisory (Plan)

$27,587

WITHUMSMITH+BROWN, PC6+ years

Filed as: BROWN, GRAHAM, & COMPANY, P.C.

Service code 10 · EIN 75-1386677

Accounting

$14,750

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 93-0577450

Indirect Investment Fees

FRANKLIN TEMPLETON4 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-2573775

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 33-1043149

Indirect Investment Fees

PIMCO FUNDS4 years

Service code 52 · EIN 95-2632339

Indirect Investment Fees

TIAA3 years

Filed as: TIAA-CREF

Service code 52 · EIN 13-4055167

Indirect Investment Fees

AMERICAN BANK OF COMMERCE 401(K) PROFIT SHARING PL

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN BANK OF COMMERCE 401(K) PROFIT SHARING PL

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion